Welcome to Request for Quote (RFQ) in SourceDay.
SourceDay RFQ gives you one place to review a buyer’s request, ask questions, prepare your quote, and submit your bid. You can also track deadlines, update a submitted bid when permitted, and see whether a request has been revised, closed, or awarded.
How the RFQ process works
A typical RFQ follows these steps:
- The buyer invites you to an RFQ.
- You review the request, items, documents, and deadline.
- You apply to the request or decline to bid.
- You enter your quote manually or complete it using Excel.
- You submit the bid to the buyer.
- The buyer reviews the submitted bids and makes an award decision.
The buyer cannot see the values in your draft bid. Your response becomes available to the buyer after you click Submit to Buyer.
Receive an RFQ invitation
When a buyer invites you to an RFQ, SourceDay sends you an email containing information about the request, including:
- RFQ title and description
- Buyer information
- Submission deadline
- Link to view the request
- Item spreadsheet, when available
Keep an eye on the deadline. After an RFQ expires, you can no longer submit a bid.
Create your account
If you are new to SourceDay RFQ, your invitation email includes a link to create your account.
Click the link and create a password containing:
- At least 12 characters
- At least three of the following:
- Lowercase letters
- Uppercase letters
- Numbers
- Special characters
After creating your password, sign in to review the RFQ.
If you already have an RFQ account, click View Request in the invitation and sign in using your existing credentials.
Review what the buyer is requesting
Before beginning your bid, review the complete request. Depending on how the buyer configured the RFQ, it may include:
- Requested items or part numbers
- Descriptions and specifications
- Requested quantities
- Requested delivery dates or lead times
- Required and optional response fields
- Attached documents
- Frequently asked questions
- Questions for your company
- Submission deadline
If you need clarification, you can ask the buyer a question from the request. Your questions and responses are not visible to other suppliers.
Apply or decline
After reviewing the request, choose how you want to respond:
- Click Apply to Request to begin preparing a bid.
- Click Decline if your company does not plan to bid on the RFQ.
Applying to the request does not immediately send information to the buyer. You can prepare and review your response before submitting it.
If you want to bid on some items but not others, apply to the request and mark the individual items you do not want to quote as No Quote.
Prepare and submit your bid
You can complete your bid directly in SourceDay or use Excel for an RFQ with many items.
The buyer may ask you to provide:
- Available or committed quantity
- Unit price
- Lead time or delivery information
- Item notes
- Taxes and discounts
- Bid expiration date
- Additional information specific to the RFQ
Required fields are identified in the request. Review your entries carefully, and then click Submit to Buyer.
After you submit
After submitting your bid, you can track it from the supplier RFQ dashboard.
Depending on the RFQ’s status and deadline, you may be able to retract the bid, make changes, and resubmit it. If the buyer revises the RFQ, review the changed items and submit an updated response.
The buyer will notify you through SourceDay when an award decision is made.